Motorola CEO Dennis Woodside has left the company to become chief operating officer with Dropbox, according to The Wall Street Journal.

Woodside will step into Dropbox to provide oversight to grow the online file-hosting company's business even further, the report says.

Woodside, a 10-year executive at Google, became CEO at Motorola Mobility following its undertaking at Google in 2012. He will be leaving following the January announcement that Lenovo is buying Motorola from Google for $2.91 billion.

Dropbox is rumoured to be the next high-profile tech IPO, which Woodside could presumably help facilitate.

Woodside was scheduled to appear at Motorola's press event in late-February, which Motorola has confirmed to Pocket-lint will still go ahead.

Google and Dropbox have not responded to requests for comment about Woodside's departure. Motorola has declined to comment.

We'll update you when we hear more.

UPDATE: And it's official. Woodside has announced he will step down as CEO at Motorola Mobility in March to join Dropbox as COO.

"This was not an easy decision to make, but I leave knowing that Motorola is in great hands - now and in the future," he said, adding he has "no doubt" that Lenovo and Motorola will be a "force for good" in the mobile industry.

UPDATE 2: Dropbox founder and CEO Drew Houston has confirmed Woodside's hiring: “We’ve long admired Dennis’s leadership at Google and Motorola where he ran multi-billion dollar businesses and built amazing organizations around the world. We’re so happy to welcome Dennis to our team — I can’t imagine a better person to help us bring Dropbox to global scale.”